The removal of two Coca-Cola bottles during a press conference at the European Championship by Christiano Ronaldo has wiped off $4bn Wiped off its market value.

The Portugal captain shifted the bottles of Coke away from him during a press conference in Budapest on Monday before his country’s Group F game against Hungary which they won 3 goals to nil.

Ronaldo followed it by holding up a bottle of water before declaring in Portuguese: “Agua!”, appearing to encourage people to choose that instead.

Coca-Cola is one of the official sponsors of Euro 2020. The company’s share price dropped from $56.10 to $55.22 almost immediately after Ronaldo’s gesture, a 1.6% dip. The market value of Coke went from $242bn to $238bn – a drop of $4bn.

A Euro 2020 spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.” Everyone “is entitled to their drink preferences”.

Musa Suleiman
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